Fourth Largest Gun Maker In US Is Out Of Guns
Tyler Durden Zerohedge
In a somewhat sad and shocking slap of reality to the face of our ‘recovery’ and ‘freedom-based-debt-holdings’, today’s press-release-of-the-day (since we still haven’t heard from BATS) goes to Sturm, Ruger (the 4th largest gun-maker in the US) who after receiving orders for over one million units in Q1 has temporarily suspended the acceptance of new orders.
Forget PCLN, CRM, NFLX, here’s where the real action is!
RGR is up a whopping 571% from Nov 07 while the S&P 500 is down 3%…
March 21, 2012
Sturm, Ruger & Company, Inc. (NYSE: RGR), announced today that for the first quarter 2012, the Company has received orders for more than one million units. Therefore, the Company has temporarily suspended the acceptance of new orders.
Chief Executive Officer Michael O. Fifer made the following comments:
The Company’s Retailer Programs that were offered from January 1, 2012 through February 29, 2012 were very successful and generated significant orders from retailers to independent wholesale distributors for Ruger firearms.
Year-to-date, the independent wholesale distributors placed orders with the Company for more than one million Ruger firearms.
Despite the Company’s continuing successful efforts to increase production rates, the incoming order rate exceeds our capacity to rapidly fulfill these orders. Consequently, the Company has temporarily suspended the acceptance of new orders.
The Company expects to resume the normal acceptance of orders by the end of May 2012.
The Company will announce its results and file its Quarterly Report on Form 10-Q for the first quarter of 2012 on Tuesday, May 1, 2012, after the close of the stock market.